Home Tradeline Cox & Kings Ltd net profit leaps to Rs 824 crores

Cox & Kings Ltd net profit leaps to Rs 824 crores

Cox & Kings Ltd., the leading leisure travel group with operations across continents today announced its financial results for the fourth quarter and full year ended March 31st 2019.

Q4FY19 Highlights:

Consolidated:

  • Net revenue for the quarter stands at Rs 452 crores and registered a growth of 18% compared to Rs 385 crores in Q4FY18
  • EBITDA (excl. forex gain/loss) jumped by 64% to Rs 149 crores as margins across all businesses improved
  • PBT (excl. forex gain/loss) before exceptional items more than doubled at Rs 96 crores compared to Rs 47 crores in the same period the correspondent year

Standalone:

  • Net Revenues at Rs 143 crores were stable as focus of the company is on B2C business rather than B2B
  • EBITDA nearly doubled to Rs 29 crores in Q4FY19 due to better business mix

FY 19 Highlights:

Consolidated:

  • Net revenues at Rs 2,007 crores grew by 18.6% as compared to Rs 1,700 crores in FY18
  • EBITDA (excl. forex gain/loss) grew by 18% and stood at Rs 692 crores as compared to Rs 583 crores last year growing in line with revenues as margins in all businesses remained stable

Standalone:

  • Leisure – India net revenues were up by 8.6% to Rs 696 crores as compared to Rs 641 crores in FY18
  • EBITDA (excl. forex gain/loss) grew by 7% to Rs 266 crores as compared to Rs 249 crores in FY18

Milestones in FY 18/19

Total number of New Franchisee stores launched: 21

New franchise outlets were opened in Dungarpur, Tirupur,  Kolkata- Dunlopmor, Greater Noida, Aurangabad- CIDCO, Amravati, Phagwara, Rajahmundry, Chinchwad, Cuttack, Guwahati- G S Road, Ratnagiri, Porvorim, Kolkata- New Town, Thrissur, Delhi- Patel Nagar, Delhi- GK-II, Mehsana, Hadapsar, Uttarpara, and Dwarka.

Total number of Holiday Clubs launched: 1

A new Holiday Club outlet was launched in Dwarka (New Delhi).

New Brands launched: 2

  1. Tour to Feast – Tour to Feast, powered by Cox & Kings was launched to introduce travellers to unique handcrafted delicious journeys across India’s most popular culinary destinations, with a slice of history. Each of these journeys is designed and accompanied by hand-picked experts who take travelers through the evolution of the indigenous cuisines of each region.
  2. Self Drive 365– Setting off a new trend of self-drive holidays in India, Cox & Kings launched an exclusive brand called Self Drive 365. The new segment aims to encourage travelers to discover and be a one-stop road trip planner while offering a wide array of road-trips within India and across the globe.

New MEININGER Hotels signed: 7

MEININGER, the Hybrid Hotels business signed seven new hotels for future launch in Marseille (France), Bremen & Munich (Germany), Ferencydros district (Hungary), Reykjavik (Iceland), Lisbon (Portugal) and Innsbruck (Austria).

Management Comments:

Peter Kerkar, Group CEO, Cox and Kings Ltd., said, “Our focus on the right segment in each business has led to profitable growth during the quarter and we plan to sharpen our focus further to improve future quality of earnings. In FY20, Meininger is set for continued strong growth with better margins while we aim to increase market share in the B2C travel segment in India”.

Figures in Rs crores

  Net revenues
FY19 FY18 %

Growth

4Q

FY19

4Q

FY18

%

Growth

Leisure (India) 696 641 9% 143 143 0%
Leisure (International) – continuing operations 430 362 19% 136 103 32%
Meininger 680 513 32% 125 92 36%
Others 202 184 10% 49 47 4%
Total (continuing operations) 2,007 1,700 18% 452 385 18%
  EBITDA excluding foreign exchange gains/(losses)*
FY19 FY18 %

Growth

4Q

FY19

4Q

FY18

%

Growth

Leisure (India) 266 249 7% 29 15 94%
Leisure (International) – continuing operations 245 194 26% 94 61 54%
Meininger 174 130 34% 16 8 100%
Others 7 10 (34%) 10 8 21%
Total (continuing operations) 692 583 19% 149 92 62%